Escalon Medical Corp. on June 29, 2018, the company entered into a business loan agreement and promissory note providing the company up to an aggregate of $250,000 (Loans) in cash with TD Bank, N.A. (TD Bank) Mr. Richard J. DePiano, Chairman of the company, executed a guarantee of the Loans in favor of TD Bank. Interest will accrue on the daily balance at the per annum rate of 0.74% above the Prime Rate (currently 5.00%), but not less than 5.0%. The current annual interest rate is 5.74% as of June 29, 2018. After the occurrence of an event of default, the company’s obligations will bear interest at the per annum rate of 18.00% above the prime rate. All interest payable under the financing documents will be computed on the basis of a 360-day year for the actual number of days elapsed on the daily balance.